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SummaryThe Securities and Exchange Board of India on Monday said stock exchanges may consider shifting securities of as many as nine companies to the normal trading category from the restricted segment.

The Securities and Exchange Board of India (Sebi) on Monday said stock exchanges may consider shifting securities of as many as nine companies to the normal trading category from the restricted segment. The scrips, which could now be shifted to rolling settlement include Lifeline Drugs & Pharma, Dera Paints & Chemicals, Ravindra Energy, Count N Denier (India), Monotype India, Golechha Global Finance, Shree Manufacturing Company, Midwest Gold and Delta Leasing And Finance, Sebi said in a circular. In 'trade-to-trade' segment, no speculative trading is allowed and delivery of shares and payment of the consideration amount are mandatory. In addition, Sebi also advised the stock exchanges to report the action taken in this regard in the monthly/quarterly development report. Sebi said the stock exchanges may consider shifting the scrips of these companies from the Trade for Trade Settlement (TFTS) to a normal Rolling Settlement as these firms have established connectivity with both depositories — NSDL and CDSL. The shifting is subject to the condition that 50% of non-promoter holdings in these companies should be in demat or electronic form.

Sebi slaps R10-lakh fine on Alka Securities promoter

Sebi on Monday imposed a penalty of R10 lakh on one of the promoters of Alka Securities (ASL), Mahendra Pandey, for alleged violation of disclosure norms. The order comes about a year after the Securities Appellate Tribunal (SAT) had set aside Sebi's penalty against Pandey related to non-compliance with the disclosure norms. At the time, SAT had directed Sebi to proceed afresh in the case on the ground that the findings of adjudicating officer did not clarify if Pandey was an officer of the ASL. As per norms, a disclosure has to be made by a person who is a director or officer of a listed company. In its latest order, Sebi imposed a fine of R10 lakh on Pandey, confirming that he is a promoter of ASL and also appointed a ‘principal officer’ to take care of the firm’s compliance matters.

Jhunjhunwala buys 5 lakh shares in Compucom

Investor Rakesh Jhunjhunwala on Monday acquired 5 lakh shares of Compucom Software in a deal worth R1.25 crore through an open market transaction. As per the bulk deal data available with the stock exchanges, Jhunjhunwala purchased 5 lakh shares of the software firm at an average price of R25 apiece. The deal size aggregated to R1.25 crore. Meanwhile, another entity, Deepak Raj